ZIP 23221
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12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in ZIP 23221 usually run 1.6% below trend in December and 1.7% above it in August, about $63 a month apart at today's median. Based on 8 years of data.
Rent in ZIP 23221 is 0.2% below its high of $1,898 in August 2026, at $1,895 as of September 2026.
Rent in ZIP 23221 changed +2.8% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.
From 2019 to 2024, rent in ZIP 23221 rose 41.9% while median household income rose 28.3% ($77,816 to $99,816). Rent outpaced income.
Rent in ZIP 23221 is 48.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 9 of the last 12 months.
30% of the median household income ($99,816) is $2,495 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,490); a 4-bedroom is $3,070.
9th cheapest of 10 ZIP codes in Richmond.
ZIP 23225, 3 miles away, rents for 20% less ($1,518/mo), about $4,500 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 23221. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 23221 (Richmond, VA) is roughly split between renters and owners, skews toward younger working-age adults, has a median income above the national average, 78.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 23221 in Richmond, VA has changed in 5 years
Rent in ZIP 23221 in Richmond, VA has climbed 40.4% since 2021, going from about $1,350 per month to roughly $1,895 today. Median household income grew from $87,218 to $99,816 between 2021 and 2024, a 14.4% shift. Rent outpaced income growth by roughly 26.0 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 75.9% to 78.6%. Taken together, the five-year picture in ZIP 23221 in Richmond, VA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Tips for renters in ZIP 23221
Last updated: October 17, 2026
ZIP code 23221 covers Richmond, VA. The median rent here is $1,895/mo as of October 2026. A 1-bedroom rents for a median of $1,810/mo. A 2-bedroom rents for a median of $1,990/mo.
At 23% of local median household income ($99,816/yr), ZIP 23221 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.8% over the past year.
Frequently asked questions
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How does ZIP 23221 compare to the rest of Richmond?
At $1,895/mo, rent takes ~23% of ZIP 23221's median household income ($99,816/yr). The standard benchmark is 30%.
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